Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2018 |
referred to housing, construction and community development |
Feb 24, 2017 |
referred to housing, construction and community development |
Senate Bill S4686
2017-2018 Legislative Session
Sponsored By
(D) 10th Senate District
Archive: Last Bill Status - In Senate Committee Housing, Construction And Community Development Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2017-S4686 (ACTIVE) - Details
- Current Committee:
- Senate Housing, Construction And Community Development
- Law Section:
- Real Property Actions and Proceedings Law
- Laws Affected:
- Add §1392, RPAP L
- Versions Introduced in Other Legislative Sessions:
-
2013-2014:
S7035
2015-2016: S3762
2019-2020: S2480
2021-2022: S5187
2017-S4686 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4686 TITLE OF BILL : An act to amend the real property actions and proceedings law, in relation to foreclosure actions and robosigned documents PURPOSE : Would provide that any entity which records a robosigned document or files a robosigned document in any court, relative to a foreclosure proceeding, is liable for a civil penalty of $10,000 per robosigned document. SUMMARY OF PROVISIONS : Section 1392 of the real property law added to the Real Property law as follows: 1. Sets forth the definition of a "robosigned document." 2. States that any entity that files a robosigned document in any court relative to a foreclosure proceeding shall be subject to a civil penalty of $10,000 per robosigned document. 3. Allows a borrower to seek an order in any court of competent jurisdiction if the borrower reasonably believes that the foreclosing
2017-S4686 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4686 2017-2018 Regular Sessions I N S E N A T E February 24, 2017 ___________ Introduced by Sen. SANDERS -- read twice and ordered printed, and when printed to be committed to the Committee on Housing, Construction and Community Development AN ACT to amend the real property actions and proceedings law, in relation to foreclosure actions and robosigned documents THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The real property actions and proceedings law is amended by adding a new section 1392 to read as follows: § 1392. ROBOSIGNED DOCUMENTS. 1. FOR THE PURPOSE OF THIS SECTION "ROBOSIGNED DOCUMENT" SHALL MEAN ANY DOCUMENT THAT CONTAINS FACTUAL ASSERTIONS THAT ARE NOT ACCURATE, ARE INCOMPLETE, OR ARE UNSUPPORTED BY COMPETENT, RELIABLE EVIDENCE. A "ROBOSIGNED DOCUMENT" ALSO MEANS ANY DOCUMENT THAT HAS NOT BEEN REVIEWED BY ITS SIGNER TO SUBSTANTIATE THE FACTUAL ASSERTIONS CONTAINED IN THE DOCUMENT. FOR PURPOSES OF THIS DEFI- NITION, MULTIPLE PEOPLE MAY VERIFY THE DOCUMENT OR STATEMENT SO LONG AS THE DOCUMENT OR STATEMENT SPECIFIES THE PORTIONS VERIFIED BY EACH SIGN- ER. 2. ANY ENTITY THAT RECORDS A ROBOSIGNED DOCUMENT OR FILES A ROBOSIGNED DOCUMENT IN ANY COURT RELATIVE TO A FORECLOSURE PROCEEDING SHALL BE LIABLE FOR A CIVIL PENALTY OF TEN THOUSAND DOLLARS PER ROBOSIGNED DOCU- MENT. THE CIVIL PENALTIES UNDER THIS SECTION ARE SEPARATE FROM AND EXCLUSIVE OF ANY OTHER REMEDIES OR LIABILITIES THAT MAY APPLY. THIS SECTION IS NOT INTENDED TO LIMIT THE TYPE OF ACTIONS REGARDING ROBO- SIGNED DOCUMENTS THAT MAY BE FILED BY ANY GOVERNMENTAL ENTITY. 3. A BORROWER MAY SEEK AN ORDER IN ANY COURT HAVING JURISDICTION TO ENJOIN ANY PENDING TRUSTEE'S SALE, IF A NOTICE OF SALE HAS BEEN RECORDED, AND THE BORROWER REASONABLY BELIEVES THAT THE MORTGAGEE, TRUS- TEE, BENEFICIARY, OR AUTHORIZED AGENT FAILED TO COMPLY WITH THE REQUIRE- MENTS OF THIS SECTION. A BORROWER WHO OBTAINS AN INJUNCTION SHALL BE AWARDED REASONABLE ATTORNEY'S FEES AND COSTS. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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